New Freddie Mac appraisal form for manufactured homes required; available for use this week by a la mode WinTOTAL users


October 17, 2003
For Immediate Release

Oklahoma City, OK  October 17, 2003 –  Freddie Mac announced it will require a new Manufactured Home Addendum – Form 70B – to the Uniform Residential Appraisal Report, as part of revised appraisal requirements for manufactured home mortgages delivered after the first of the year.

The new form 70B will be available on a la mode's WinTOTAL form filling and business management software for appraisers this week as an Instant Customer Update – a user-scheduled automatic Internet upload of new forms and features from a la mode's servers. With WinTOTAL's ICU feature, new forms like Freddie's new 70B are delivered to users while they work – no pointing and clicking, Internet installations or CD updates required.

a la mode has made new forms appraisers need available in WinTOTAL more quickly than competitors' software. Recently, the new ERC Summary Appraisal Report (WinTOTAL availability: October, 2003), HUD's revised Valuation Checklist (VC) (WinTOTAL availability: July, 2003) and Fannie Mae's manufactured housing addendum (WinTOTAL availability: June, 2003) have been released to WinTOTAL users when they and their clients needed them.

More information on obtaining WinTOTAL is available by visiting http://www.alamode.com/software/Win2000/WinTOTAL_new.htm or calling 1-800-ALAMODE.

Non-WinTOTAL users should contact their software provider for information on obtaining the new form for use.

The two-page form 70B includes sections on Supplemented Neighborhood Information, dedicated to manufactured home-specific property values, supply/demand, marketing time and the like; Identification of Subject Manufactured Home; Site Information; Manufactured Home Characteristics; Site Value Analysis; and a Manufactured Home Cost Approach analysis. Appraisers will not be required to fill in the cost approach section of Freddie Form 70 where the subject is a manufactured home.

In conjunction with the release of Form 70B, Freddie said it was revising its appraiser qualification requirements for manufactured homes. By submitting Form 70B, appraisers certify they meet qualification requirements set out in the form's instructions.

An Adobe PDF version of the new Freddie form may be obtained from the Freddie Mac website: http://www.freddiemac.com/sell/forms/pdf/70b.pdf WinTOTAL will have the form available in both letter and legal sizes.

Current WinTOTAL users may upgrade to WinTOTAL Enterprise for $299 and receive Pocket TOTAL, a la mode's Pocket PC mobile application, free in October. Visit  http://www.alamode.com/software/Win2000/WinTOTAL_new.htm or call 1-800-ALAMODE